First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell Sells 8,386 Shares of Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell sold 8,386 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the sale, the director now owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

First Watch Restaurant Group Price Performance

Shares of NASDAQ:FWRG opened at $22.75 on Wednesday. The company’s fifty day moving average is $23.94 and its two-hundred day moving average is $20.75. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.21. First Watch Restaurant Group, Inc. has a 12-month low of $14.74 and a 12-month high of $25.88. The company has a market cap of $1.37 billion, a P/E ratio of 55.49, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The company had revenue of $244.60 million for the quarter, compared to the consensus estimate of $237.20 million. During the same period in the previous year, the business earned ($0.01) EPS. The company’s revenue was up 31.7% on a year-over-year basis. Equities analysts expect that First Watch Restaurant Group, Inc. will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. acquired a new stake in First Watch Restaurant Group during the 3rd quarter valued at $8,940,000. 12 West Capital Management LP acquired a new stake in First Watch Restaurant Group during the 3rd quarter valued at $3,717,000. Swiss National Bank increased its stake in shares of First Watch Restaurant Group by 53.1% in the third quarter. Swiss National Bank now owns 58,800 shares of the company’s stock worth $1,017,000 after acquiring an additional 20,400 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of First Watch Restaurant Group by 201.4% in the third quarter. New York State Common Retirement Fund now owns 75,718 shares of the company’s stock worth $1,309,000 after acquiring an additional 50,599 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of First Watch Restaurant Group by 48.5% in the third quarter. Barclays PLC now owns 32,264 shares of the company’s stock worth $557,000 after acquiring an additional 10,534 shares during the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FWRG has been the subject of a number of research analyst reports. Raymond James upped their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price objective on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. TD Cowen reiterated a “hold” rating and set a $26.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, April 10th. Barclays increased their price objective on First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Citigroup increased their price objective on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.